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while vice president joe biden is in capitol hill to sell it to senate democrats, they have got to sign off on the framework of that deal. this is what we know, adam. it exempts income of $400,000 for individuals, $450,000 for families from a tax increase, capital gains and dividends stay the same local straits, amounts above that. permit the patches the alternative minimum tax. estate tax goes to 40% of amounts more than $5 million, one-year extension of employment benefits and the doctor fix making sure medicare doctors don't get a massive pay cut, that is also part of all of this. the debt ceiling is not part of that, something democrats wanted to extract more spending cuts in later debate. the headline here according to a g.o.p. aide, the whole thing is done. it does not mean it is a done deal entirely. but this just developing in the last couple of minutes. adam: when you say the whole thing is done, why is the vice president going to the capital? it sounds to me there are still democrats who need arm-twisting because there was at least part of that side leadership was confirmeconc
while vice president joe biden is in capitol hill to sell it to senate democrats, they have got to sign off on the framework of that deal. this is what we know, adam. it exempts income of $400,000 for individuals, $450,000 for families from a tax increase, capital gains and dividends stay the same local straits, amounts above that. permit the patches the alternative minimum tax. estate tax goes to 40% of amounts more than $5 million, one-year extension of employment benefits and the doctor fix...
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i was here yesterday, i'm looking for a dance partner, even saying he and joe biden have solved problems before. that's a hopeful sign. that there's a willing partner he can trust at the table. but the fact that you know you can get to point where people don't even have a counteroffer obviously is frustrating and it's really neither side should look to the american people like they're giving up until the very last minute. >> a.b. stoddard, thank you very much. we always appreciate your insight. >> there may be bickering on capitol hill about the fiscal cliff, but outside of washington, americans want something done and yes, they want it done now. >>> and the oak ridge boys have been crooning for the ailing president, george h. bush and someone who was there will join us to tell us how it went. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easie
i was here yesterday, i'm looking for a dance partner, even saying he and joe biden have solved problems before. that's a hopeful sign. that there's a willing partner he can trust at the table. but the fact that you know you can get to point where people don't even have a counteroffer obviously is frustrating and it's really neither side should look to the american people like they're giving up until the very last minute. >> a.b. stoddard, thank you very much. we always appreciate your...
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vice president joe biden who has been trying to influence senate democrats, many of them skeptical to support this deal he is negotiate with senate minority leader mitch mcconnell. they want this to be much lower rate is placed on the deal for individuals, $430,000 for married couples. what we're hearing now is the drafting is ongoing, national budget office is taking a look k at this to see exactly how much it is going to cost but as it is known with the impact of the deficit going to be, senator joe lieberman said a short while ago they will try to vote on this thing at some point this evening as we get closer, adam, less than an hour to go in the year 2012 there is no way this clears the senate and the house before the end of the new year. if the senate passes this tonight or sometime in the early morning hours the house will hol begin considering it tomorrow. there's no real outlook so far as to whether or not this is actually going to pass the house, too early to tell. they are basically saying the senate goes first and then the house. adam: have the senator from ohio saying he w
vice president joe biden who has been trying to influence senate democrats, many of them skeptical to support this deal he is negotiate with senate minority leader mitch mcconnell. they want this to be much lower rate is placed on the deal for individuals, $430,000 for married couples. what we're hearing now is the drafting is ongoing, national budget office is taking a look k at this to see exactly how much it is going to cost but as it is known with the impact of the deficit going to be,...
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and that is what vice president joe biden is trying to sell the liberals on right now. saying that this is not the threshold that he wanted. but it's something that least gives tax cuts to many americans were making much less than $250,000 per year. and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against the contraceptive mandate? >> it is a surprisingri, pringlehey lt be >> a christian-based company, and they think that that is part of their credo, and 10mandment l commandments, the golden rule. the living hearing purchase pilt will kill babies. we are not going to do it. but the circuit court, the appeals court said we are going to
and that is what vice president joe biden is trying to sell the liberals on right now. saying that this is not the threshold that he wanted. but it's something that least gives tax cuts to many americans were making much less than $250,000 per year. and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering...
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vice president biden just said that yesterday. but i want to get your feel for what you think is going to happen. we had a pretty significant 89-8 vote in the senate. dana bash who knows a lot about what's going on in the hallways said she has no idea how this vote could shake down. do you have a sense of how many of your members may vote to support a deal or how many friends may vote to support a deal? >> i don't know. my guess is there will be strong support in the democratic caucus. i don't know what the conference will do. i think essentially the speaker said let the senate do it. now it's back. so i don't really know. but i do think the bill will come up today. the notion there will be amendment, i just don't think that's feasible. i think everybody should plan that after due deliberation the republicans that we're likely to have a vote today. the markets aren't open today. they will be tomorrow. i don't think we should go over the cliff for 24 hours. >> dangling is no fun. thank you for being with us. i sure hope you're hard
vice president biden just said that yesterday. but i want to get your feel for what you think is going to happen. we had a pretty significant 89-8 vote in the senate. dana bash who knows a lot about what's going on in the hallways said she has no idea how this vote could shake down. do you have a sense of how many of your members may vote to support a deal or how many friends may vote to support a deal? >> i don't know. my guess is there will be strong support in the democratic caucus. i...
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vice president biden will probably come to capitol hill tonight. they don't like the rate ares and there is still some hesitation. the big story tonight is that republicans are going to unit behind mcconnell. going to leave it there. thank you gentlemen. we are going to go back to washington and get an update on this developing story. that comes later. don't forget folks free market capitalism is the best path to prosperity. it means limited government and limited government spending and rewarding success. i'm kudlow and the kudlow report will be right back. >> this new year's day kick off 2013 in style with the look at what made 2012 unforunforgettab. the new year's day marathon all day on cnbc. nderstand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. w
vice president biden will probably come to capitol hill tonight. they don't like the rate ares and there is still some hesitation. the big story tonight is that republicans are going to unit behind mcconnell. going to leave it there. thank you gentlemen. we are going to go back to washington and get an update on this developing story. that comes later. don't forget folks free market capitalism is the best path to prosperity. it means limited government and limited government spending and...
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vice president joe biden and mitch mcconnell are at the center of the talks. and we're locked in urgent negotiations late last night while the senate has just reconvened while the house is on standby. good morning, sir. if it comes down to a vote, you're the one who will count the votes as the house minority whip. what are you hearing from your senate counterparts this morning? any signs of progress there? >> there are some signs of progress. we have heard that there is another offer on the table by the administration to reach agreement. in terms of the specifics, i don't know all the specifics. some of which i'm not too happy with. some of which i don't think make the math work, but i think the most important objective is of the administration's and to not go over this cliff, to make sure working americans don't get a tax increase tomorrow and to make sure that those on unemployment who have been unable to find a job have some help in the week ahead. i think we need to keep our powder dry to remain positive. there's still time to act and we need to reach agre
vice president joe biden and mitch mcconnell are at the center of the talks. and we're locked in urgent negotiations late last night while the senate has just reconvened while the house is on standby. good morning, sir. if it comes down to a vote, you're the one who will count the votes as the house minority whip. what are you hearing from your senate counterparts this morning? any signs of progress there? >> there are some signs of progress. we have heard that there is another offer on...
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president obama and vice president joe biden. they are getting a pay raise. you heard me correctly. they just got a raise by executive order. the president is ending the pay freeze on federal workers, which includes conongressional member. it was put in place three years ago. i don't know about you, listening to the folks that pushed us to the brink of the fiscal cliff. a little hard to take him at his neck? that's my "two cents more". that's it for tonight "willis report." thank you for joining us. don't forget to tape the show. if you can't testify. have a great night moments ago, president obama saying he still has hope. >> i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> and as we speak, rich edson is live in washington with the very latest. >> well, it's up to the senate. staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on
president obama and vice president joe biden. they are getting a pay raise. you heard me correctly. they just got a raise by executive order. the president is ending the pay freeze on federal workers, which includes conongressional member. it was put in place three years ago. i don't know about you, listening to the folks that pushed us to the brink of the fiscal cliff. a little hard to take him at his neck? that's my "two cents more". that's it for tonight "willis report."...
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we reported that joe biden, the environment, is in the building. our photographer just saw him go into harry reid's office. he's currently meeting, i don't know, one-on-one, or maybe with other members of the senate democratic leadership in the office of senator harry reid, which is just around the corner from where i'm standing right now. you see this crowd of people behind me. those are reporters waiting to see if the vice president is going to come through because he's eventually going to come through he and meet with all of the senate democrats for the meeting you were talking about with the senator. sounds as though they're doing a little talking about -- a little bit of a game plan about how they're going to present this to the caucus, and obviously, that's a very delicate issue for reasons we have been talking about. the democratic caucus, many of them are not happy. in fact, i have to tell you i was told by one democratic senator when they put up on a screen, they put up yesterday in a meeting that democrats were having, they put up almost
we reported that joe biden, the environment, is in the building. our photographer just saw him go into harry reid's office. he's currently meeting, i don't know, one-on-one, or maybe with other members of the senate democratic leadership in the office of senator harry reid, which is just around the corner from where i'm standing right now. you see this crowd of people behind me. those are reporters waiting to see if the vice president is going to come through because he's eventually going to...
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>> well, joe biden and mitch mcconnell are older school politicians. they remember a time when compromise was how you close deals like this. and there are a lot of, i guess, mostly younger members up there who don't remember that time. they view their job is to go to washington and create conflict and have grid lock. that doesn't mean that their caucuses will certainly be with them. that is no surprise to me that vice president joe biden is talking with them. it is not a slam dunk, i suspect it will, especially if it passes the senate with a significantly bipartisan vote. you have some real deal makers. >> what do you think that this really means in your opinion, to the average american taxpayer? whether, you know, with the threat we may go over the cliff, and now we may really not. what difference did this really, really mean and if you could put it in plain words for us who are not economists, just explain what it means for all of us? >> well, first of all it means that if you're someone who is a beneficiary of long-term unemployment benefits, you're
>> well, joe biden and mitch mcconnell are older school politicians. they remember a time when compromise was how you close deals like this. and there are a lot of, i guess, mostly younger members up there who don't remember that time. they view their job is to go to washington and create conflict and have grid lock. that doesn't mean that their caucuses will certainly be with them. that is no surprise to me that vice president joe biden is talking with them. it is not a slam dunk, i...
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in attendance will be vice president joe biden. is it going to be difficult to sell your party on this deal? >> well, i think that we're going to come together in about an hour as a democratic caucus and hear the vice president out. there are a lot of good things in this bill that make sense and that i think it will ultimately earn the overwhelming majority of house democratic votes. we made sure that as we committed throughout this last campaign that we would not allow taxes to increase on 98% of americans that's in this deal. we made sure that we pushed off a really significant slashing of defense spending as well as domestic spending and we'll make sure going forward that whatever deal we do reach on those spending cuts is balanced when it comes to both revenue and spending cuts. and that's the overall -- overriding commitment here is we have a balanced plan in front of us and we'll need to -- any further deals made in the future continue to have a balanced plan. >> there are some in your party who don't like this plan. senator
in attendance will be vice president joe biden. is it going to be difficult to sell your party on this deal? >> well, i think that we're going to come together in about an hour as a democratic caucus and hear the vice president out. there are a lot of good things in this bill that make sense and that i think it will ultimately earn the overwhelming majority of house democratic votes. we made sure that as we committed throughout this last campaign that we would not allow taxes to increase...
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vice president biden also here at the white house. he can of course be an incredibly important player in this entire process. president obama's strategy has to some extent been to wage a public campaign putting the pressure on congress to get something done during that exclusive interview earlier today you heard the president accuse republicans of being solely focused on protecting the taxes of wealthier americans. of course, president obama wants to see the bush era tax cuts extended for those making $250,000 or less while letting it raise on those making more than that. that $250,000 figure is up for debate and is up for compromise. i can tell you that republican leaders on the hill fired back saying he was more interested on assigning blame than getting something done and leading while they are trying to hammer out a deal. that is where things stand right now at the white house. clearly watching these developments quite closely. >> kristen welker, thank you. we will be checking back throughout the afternoon, as well. nchlts for mor
vice president biden also here at the white house. he can of course be an incredibly important player in this entire process. president obama's strategy has to some extent been to wage a public campaign putting the pressure on congress to get something done during that exclusive interview earlier today you heard the president accuse republicans of being solely focused on protecting the taxes of wealthier americans. of course, president obama wants to see the bush era tax cuts extended for those...
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>> you heard vice president biden. the white house has put forth a deal and gotten some republicans is in leadership so go along with this. is a big step. we're going to see the republican party rear its ugly head and see how rogue they want to be in going against the majority of americans. very clear. you look at every poll out there protect social security, medicare, medicaid. in this round, that's exactly what the white house did. republicans want to go against that, they have to deal with it in 2014. they want the wealthiest americans to pay for. that's what will happen in this deal. republicans will have to deal with that down the road this will bring more money into the treasury and won't hurt the middle class. the middle class has been protected in this deal and that's exactly what the president said he would do all along. and this is a monumental move by the republicans if they vote for this, there will only be two republicans that ever voted for a tax increase. for the president to keep this, is it's dig deal.
>> you heard vice president biden. the white house has put forth a deal and gotten some republicans is in leadership so go along with this. is a big step. we're going to see the republican party rear its ugly head and see how rogue they want to be in going against the majority of americans. very clear. you look at every poll out there protect social security, medicare, medicaid. in this round, that's exactly what the white house did. republicans want to go against that, they have to deal...
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maybe 7:30 where vice president biden will update the caucus on the state of the deal. senate democrats we're told have not signed off on the deal. after the caucus there is an expectation of votes around possibly 10:00 p.m. maybe later. as we get word about the senate action. and knowing about it. but it will be a while. 10:00 p.m. we're going to be back here at 8:00 p.m. you were saying about this deal, we rudely cut you off before. that the entitlement reform is not specific on the republican side. democratic side, frankly there is no spending cuts in this deal. no additional spending cuts. >> there this is the other part of this. obama doesn't -- obama believes in stimulating the economy through spending. he doesn't believe in making all the cuts. so again, like you are asking him to adopt a world view he doesn't have. >> bret: even though he talked about it many times. >> he does talk about it. >> expounding upon it. fixing social security and medicare. >> anybody who reads paul krugman, grand pubah of economics on the left his worry that the deficit will be reduce
maybe 7:30 where vice president biden will update the caucus on the state of the deal. senate democrats we're told have not signed off on the deal. after the caucus there is an expectation of votes around possibly 10:00 p.m. maybe later. as we get word about the senate action. and knowing about it. but it will be a while. 10:00 p.m. we're going to be back here at 8:00 p.m. you were saying about this deal, we rudely cut you off before. that the entitlement reform is not specific on the...
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yet you see vice president biden on the hill yesterday dealing with the fiscal cliff. if you're going to have two more months of positioning on the fiscal cliff, how deep does the president go on that or does he go on immigration or gun control or energy which he said yesterday is another priority in his state of the union speech and really push? because the white house has to prioritize and right now the economy continues to be the number one priority for the foreseeable future. >> jill, if this fiscal cliff bill does get done is the new congress going to be more or less likely to work with the president on his second term agenda? >> well, the president is going to have more senators to work with, 55 as opposed to 53. that doesn't mean he'll have an easy time of it because republicans can block anything they want in the senate. it depends on what lessons if any republicans took from the election. i do think that the principle gap is very deep and so i'm not sure that we're going to see a kumbaya situation. but as i say, there are some advantages for republicans in mak
yet you see vice president biden on the hill yesterday dealing with the fiscal cliff. if you're going to have two more months of positioning on the fiscal cliff, how deep does the president go on that or does he go on immigration or gun control or energy which he said yesterday is another priority in his state of the union speech and really push? because the white house has to prioritize and right now the economy continues to be the number one priority for the foreseeable future. >> jill,...
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mcconnell and joe biden. so there's an indication of how things are going. >> you wrote that democrats are hesitant to put a deal on the senate floor with no republican backing, because it just offers them a chance to score political points when public opinion does seem to be favoring the democrats. democrats don't have an incentive to waste a show of support for something that can't pass, right? >> that's exactly where democrats are. they feel like they want to get a deal with republican backing, if they can. but remember on friday, the president kind of put republicans in a box. he said either cut a deal in the senate and push it through, or i'm going to ask harry reid to put my scaled back plan on the senate floor. and remember that scaled back plan has tax increases for everybody who makes over $250,000, which republicans don't love at all. i'll have harry reid put that on the floor and you'll have to block it. and you will have to then take responsibility for not pushing it through. so republicans are a
mcconnell and joe biden. so there's an indication of how things are going. >> you wrote that democrats are hesitant to put a deal on the senate floor with no republican backing, because it just offers them a chance to score political points when public opinion does seem to be favoring the democrats. democrats don't have an incentive to waste a show of support for something that can't pass, right? >> that's exactly where democrats are. they feel like they want to get a deal with...
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. >> you mentioned vice president biden swooping in at the last minute like superman and being able to secure this deal and that's certainly the perception a lot of people had. we heard mitch mcconnell speaking on the floor and he said this shouldn't have taken this long. certainly, there have been discussions about this for months. so in terms of the political drama that was playing out behind the scenes, how did this happen this waif? all of the sudden, at the 11th hour, well passed the 11th hour, we're voting at two in the morning on this measure. >> well, just as the way things happen in congress. nobody does anything until their back is completely against the wall. and i've got to say, maura, it's not all said and done for all the reasons we've outlined. the house of representatives still has to act. there could yet be some hiccups if not major explosions along the way here. but, you know, i mean, in order for people to come together, they've really got to have their backs up against the wall. and if you can say one thing, one remarkable thing about what's happening here on the se
. >> you mentioned vice president biden swooping in at the last minute like superman and being able to secure this deal and that's certainly the perception a lot of people had. we heard mitch mcconnell speaking on the floor and he said this shouldn't have taken this long. certainly, there have been discussions about this for months. so in terms of the political drama that was playing out behind the scenes, how did this happen this waif? all of the sudden, at the 11th hour, well passed the...
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right now his representative, joe biden, was in the senate for a very long time, is trying to forge a deal with mitch mcconnell. they've had a successful partnership in the past, and harry reid, the majority leader, seems to go along with that. so maybe the outlines of a deal can be between those two principals. then again, we have john boehner, speaker of the house, has to control his own republican party. what happens if mcconnell and biden create a minimal deal and boehner can't sell it, then we're back to square one, which is failure. >> right. which boehner couldn't do with his plan b a couple of days ago. >> that's right. >> the question is, if some deal should be reached, i'm not expecting something that's overreaching, something large, is it short-term? >> very short-term. and then i'm sorry to be the dispenser of bad news, we have the whole fiscal cliff again with the fiscal reputation in terms of the borrowing maximum, the ceiling, which will come due in about a month where they have to raise the debt ceiling. you remember the president said, i'm not going to play that game
right now his representative, joe biden, was in the senate for a very long time, is trying to forge a deal with mitch mcconnell. they've had a successful partnership in the past, and harry reid, the majority leader, seems to go along with that. so maybe the outlines of a deal can be between those two principals. then again, we have john boehner, speaker of the house, has to control his own republican party. what happens if mcconnell and biden create a minimal deal and boehner can't sell it,...
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vice president biden -- i know who that is. that is senator mcconnell's spokesperson up there, don stewart who is regaling reporters with some kind of details about behind the scenes. stu is telling the reporters from the republican point of view. ed, what about from the white house point of view you about how this deal came to be and what it looks like? >> as mike laid out he s exactly right that vice president biden, of course, played a pivotal role. known as the mcconnell whisperer as somebody who when you go back to the debt ceiling debate about a year and a half ago he unsticked that when it was stopped up. he was brought in sort of as the closer again yesterday to try to move this along. it is not a completely done deal yet. as you noted this sequester came about all because the cuts were supposed to be so onerous that lawmakers in both parties would never let them go through and yet they he went right up to the edge here. this is important this s just as mike said a two month buydown. shut out the cuts for two months. co
vice president biden -- i know who that is. that is senator mcconnell's spokesperson up there, don stewart who is regaling reporters with some kind of details about behind the scenes. stu is telling the reporters from the republican point of view. ed, what about from the white house point of view you about how this deal came to be and what it looks like? >> as mike laid out he s exactly right that vice president biden, of course, played a pivotal role. known as the mcconnell whisperer as...
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that joe biden, the negotiations with mitch mcconnell essentially borne fruit. republicans annoyed with that. the tax threshold, that's agreed upon. republicans agree, too. what about this sequester? supposed to be the trigger, supposed to be the apocalyptic scenario that made cuts in spending necessary. otherwise we go over the cliff and there are cuts to defense and domestic programs. the president wants to delay them two months, three yearmonta year. many republicans say, absolutely not. many were angry he chose to have a campaign-style event in the white house complex. mitch mcconnell took the floor of the senate and pretty much calling the president's bluff saying, yes, we have an agreement on taxes. let's go ahead and vote on that. leave the sequester the way it is. that's not going to fly. we have an impasse here. there have been reports that the house of representatives to take whatever passes the senate if something passes and do it a minute after midnight. that scenario of steve and i and all of us talking about voting to cut taxes or not. i'm told rec
that joe biden, the negotiations with mitch mcconnell essentially borne fruit. republicans annoyed with that. the tax threshold, that's agreed upon. republicans agree, too. what about this sequester? supposed to be the trigger, supposed to be the apocalyptic scenario that made cuts in spending necessary. otherwise we go over the cliff and there are cuts to defense and domestic programs. the president wants to delay them two months, three yearmonta year. many republicans say, absolutely not....
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the republican leader calls joe biden off the bench, right. this is kind of what we all had been waiting for. the senate republican leader and the vice president have a good working relationship. we saw that last summer in the debt ceiling debate. those two guys swooped in at the end and helped make a deal happen. when i talked to mcconnell's folks last week, they said, you know, the vice president has been on the sidelines here. we have not been contacted by them. we have not been contacted by the president. it was an interesting move by mitch mcconnell to call joe biden today and try to jump-start these negotiations when they locked up with the majority leader on the democrat side. that will be something to watch in the coming hours. democrats are concerned he will cut a bad deal. they're feeling pretty good right now. will joe biden come in an emboldin the republicans or will the dems hang together across pennsylvania avenue from the white house to congress. a big storyline that we're all watching very closely. >> now that we here that they
the republican leader calls joe biden off the bench, right. this is kind of what we all had been waiting for. the senate republican leader and the vice president have a good working relationship. we saw that last summer in the debt ceiling debate. those two guys swooped in at the end and helped make a deal happen. when i talked to mcconnell's folks last week, they said, you know, the vice president has been on the sidelines here. we have not been contacted by them. we have not been contacted by...
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joe biden is saying, yeah, 2016. maybe. >> he is not going through the ritual of saying -- he is clearly it does interest me. it's hard to -- i would separate this from presidential politics. as hard as that is for somebody like us. >> come on. it's tough. i do think this represents the fact that at the end of the day particularly in your intense dead looirn situation personal relationships do matter. two men that have been in the senate and know each other. i don't know of if i particular affection, they know each other and they know what makes the other tick. they know what the other incentives are. the personal relationships can matter. there's no question. i think it will give sort of credibility to joe biden's standing, and they will show the value of that kind of institutional knowledge and seniority. >> they say it's the deal and it's the program meter is 450,000 with an extension of the patch in amt and extension of unemployment benefits and all these sorts of things. are both sides able even if they're not r
joe biden is saying, yeah, 2016. maybe. >> he is not going through the ritual of saying -- he is clearly it does interest me. it's hard to -- i would separate this from presidential politics. as hard as that is for somebody like us. >> come on. it's tough. i do think this represents the fact that at the end of the day particularly in your intense dead looirn situation personal relationships do matter. two men that have been in the senate and know each other. i don't know of if i...
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so, again, vice president biden heading to the hill. just three hours until we head over the fiscal cliff. the large concern here is the impact that going over the cliff would have on the economy. now economists say look, it's not going to be a windfall on wednesday. it's not going to be a complete disaster all at once. but what could happen is that the markets could begin to respond on wednesday. they're closed of course tomorrow for the holiday. and then over time, the average american could wind up paying about $2,000 more in their taxes. and if we went over the cliff and stayed over the cliff for a significant amount of time, the economy could eventually begin to dip back into recession. and that is really the big concern here. you've heard president obama talk about those concerns when he has held some of these public campaign events. he held one today to pressure congress to act. he has talked about the fact that this is a really about americans and the economy and preventing the economic recovery from being harmed. milissa? >> kr
so, again, vice president biden heading to the hill. just three hours until we head over the fiscal cliff. the large concern here is the impact that going over the cliff would have on the economy. now economists say look, it's not going to be a windfall on wednesday. it's not going to be a complete disaster all at once. but what could happen is that the markets could begin to respond on wednesday. they're closed of course tomorrow for the holiday. and then over time, the average american could...
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. >> lawmakers and vice president biden struggling all day on a deal, but no final vote. at least so far. we'll get the latest from the hill and show what this means for you and your taxes starting tomorrow. >> ali is going to be with us for the next hour or two or three. who knows. we're also watching a very serious health scare for the secretary of state, hillary clinton. she's now hospitalized with a blood clot. doctors are revealing where it is. we want to welcome our viewers in the united states and around the world. >>> we'll get to the fiscal cliff negotiations. there's movement right now, but first, startling new information we're learning about the blood clot that landed secretary of state hillary clinton in the hospital this new year's eve. her doctor is now revealing it's located in her head between her brain and her skull. let's go straight to our chief medical correspondent, dr. sanjay gupta for the latest. they issued a pretty detailed statement, sanjay. walk us through what we know about the secretary's condition. >> well, what they have told us, just over
. >> lawmakers and vice president biden struggling all day on a deal, but no final vote. at least so far. we'll get the latest from the hill and show what this means for you and your taxes starting tomorrow. >> ali is going to be with us for the next hour or two or three. who knows. we're also watching a very serious health scare for the secretary of state, hillary clinton. she's now hospitalized with a blood clot. doctors are revealing where it is. we want to welcome our viewers in...
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the democrats are said to be going in now and that vice president joe biden who, of course, was key in making the senate deal happen, will be in that caucus, we're told. big questions, though, still outstanding. when might the house vote on this deal? can speaker boehner come up with the votes to pass it? or will republicans try to amend it and end send it back. good day. happy new year. i'm chris jansing. there are a lot of moving parts on capitol hill. let's get right to nbc's luke russert who is on the hill and where things stand. first, let's listen into the start of this session. >> the speakers are in washington d.c., january 1, 2013. i hereby hereby appoint the honorable robert j. dole to act as speaker in temporary on this day, signed john a. boehner, speaker of the house of representatives. >> the prayer will be offered by our chaplain father conroy. >> let us pray. eternal god, we give you thanks for giving us another day, a new year. the political struggles of the past year have revealed the divisions that exist in our nation. there are many american citizens who are angry,
the democrats are said to be going in now and that vice president joe biden who, of course, was key in making the senate deal happen, will be in that caucus, we're told. big questions, though, still outstanding. when might the house vote on this deal? can speaker boehner come up with the votes to pass it? or will republicans try to amend it and end send it back. good day. happy new year. i'm chris jansing. there are a lot of moving parts on capitol hill. let's get right to nbc's luke russert...
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the republican leader calls joe biden of the bends. -- bench. this is what we have all been waiting for. the republican leader and the vice president have a good working relationship. we saw that last summer. they swooped in and helped make a deal happen. mcconnell's folks said the vice president has been on the sideline. it was an interesting move by mitch mcconnell to try -- to called joe biden today and jump start the negotiations. i think that will be something to watch in the coming hours. how does he play? there are democrats that are concerned he will cut a bad deal. they are feeling pretty good right now. will the democrats hang together across pennsylvania avenue from the white house to congress? a big story line we are watching right now. >> we hear they are coming back, and senator reed wants to bring the senate back. is it likely he will have a deal? >> i wish i could tell you that. if i could, i would be a millionaire. i would be making bets on the starch market. -- stock market. the hope is that there could be some kind of deal. de
the republican leader calls joe biden of the bends. -- bench. this is what we have all been waiting for. the republican leader and the vice president have a good working relationship. we saw that last summer. they swooped in and helped make a deal happen. mcconnell's folks said the vice president has been on the sideline. it was an interesting move by mitch mcconnell to try -- to called joe biden today and jump start the negotiations. i think that will be something to watch in the coming hours....
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vice president biden has worked very hard to come to a compromise. by definition, a compromise has elements in it that each party does not like. but by definition, it has things in it that each party should like. the speaker said that if the senate passed a bill he would put it on the floor for a vote. the leader has pointed out that we expect that to happen. we think that's the best interest of the american people. we hope that our colleagues on the other side of the aisle can reach compromise. our members are reviewing the specifics of the compromise that has been reached to determine whether they can support that compromise. i'm hopeful this congress will, as one of its last acts, act not only on this compromise, but i'm also very hopeful and would expect that we would provide the emergency assistance needed for the victims of sandy. one of the country's worst storms in history that damaged the northeast so badly. so, i'm hopeful we will be able to move on both of these issues and that we will have members on both sides who perhaps will not agree,
vice president biden has worked very hard to come to a compromise. by definition, a compromise has elements in it that each party does not like. but by definition, it has things in it that each party should like. the speaker said that if the senate passed a bill he would put it on the floor for a vote. the leader has pointed out that we expect that to happen. we think that's the best interest of the american people. we hope that our colleagues on the other side of the aisle can reach...
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i mean, in the end, it became mitch mcconnell and joe biden. the majority of lawmakers essentially cut out of the process, including, arguably, the speaker. so, how can things be done differently if you're going to do things like getting the debt ceiling taken care of, like figuring out the sequester? >> well, this was a unique situation because we did have the fiscal cliff and we had a lame duck congress. what i think we have to start trying to do is return to what's called around here regular order. there really is no such thing in this congress. but what that means is that the committees actually consider the bills. and the thing that is really the challenge for us is to get republicans and democrats to be working on these committees, talking about the different issues and trying to come up with some compromises. right now, it's just an all-or-nothing proposition, and the republicans have the majority in the house and it's their way or the highway. the senate filibuster is a big impediment. and in the old days that people speak about with so
i mean, in the end, it became mitch mcconnell and joe biden. the majority of lawmakers essentially cut out of the process, including, arguably, the speaker. so, how can things be done differently if you're going to do things like getting the debt ceiling taken care of, like figuring out the sequester? >> well, this was a unique situation because we did have the fiscal cliff and we had a lame duck congress. what i think we have to start trying to do is return to what's called around here...
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senate majority leader harry reid said we should talk to vice president biden and mitch mcconnell. earlier republicans suggested changing the way inflation is calculated on changes like social security read offered this reaction late in the day. >> i was really grass fied to hear republicans taking command by social security set off the table. this should never have been on the table to begin with. there is still significant difference between the two sides negotiations continue. still time left to reach an agreement. >> meanwhile west virginia democrat joe mansion introduced the calm act trying to soften the blow as the country goes off the fiscal cliff. it would maphase in tax hikes or the years and prioritize spending cuts. he says he's frustrated and tried to do something. >> it was crossing the wires it's more than frustration it sounds like desperation at this point as they are losing hope. the chained cpi the social security adjustment you were talking about basically changes the way they configure the cost of living and would make those benefits smaller checks. does it soun
senate majority leader harry reid said we should talk to vice president biden and mitch mcconnell. earlier republicans suggested changing the way inflation is calculated on changes like social security read offered this reaction late in the day. >> i was really grass fied to hear republicans taking command by social security set off the table. this should never have been on the table to begin with. there is still significant difference between the two sides negotiations continue. still...
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tonight it's between senator mitch mcconnell and vice president joe biden. we're some of the last people in the building. i know -- come on through, guys, if you want. there's one of the crews that -- the worker crews are starting to come into work tonight. we're the last reporting crew. all the members of congress have pretty much gone. the republicans in the house were meeting late tonight to try to talk about what to do, in the end this is what our producer deirdre walsh heard from them. the message is just sit tight, stay tuned and i think what we have to do, don, is find out tomorrow morning, whether there is any progress between senator mcconnell and vice president joe biden. there is definitely hope. there is not a lot of time. >> let me tell you this, lisa. when you see the workers there, and the crew that -- and those are the people who these negotiations are about. every day americans who work these types of jobs, who are every day americans and so there you go. i think that is absolutely tells the story. >> don, i want to -- >> go ahead. >> i want
tonight it's between senator mitch mcconnell and vice president joe biden. we're some of the last people in the building. i know -- come on through, guys, if you want. there's one of the crews that -- the worker crews are starting to come into work tonight. we're the last reporting crew. all the members of congress have pretty much gone. the republicans in the house were meeting late tonight to try to talk about what to do, in the end this is what our producer deirdre walsh heard from them. the...
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it's led by joe biden. he has already convened it twice. he has met with law enforcement officials, with mayors, and more excitingly, you've got people on the hill already announcing bills that are going to put forward on day one of the new congress. we've got senator feinstein proposing an assault weapons ban. we've got someone else with a high capacity ammunition clips. think it's maybe lautenberg, and you have the president publicly saying now that he supports those bills. this is the most momentum to date. this is the most we're going to see for a while. they have to build now or go home. >> that's the question. we go back to the question of capitol hill gridlock, and as much as people want to sort of talk about the issue and it makes everyone feel good to say they're on the right side of the issue, but can something like this get through the house of representatives? >> two dirty secrets. the first one is the white house before the election is actually going to do something on gun control if he got re-elected. second dirty secret is yo
it's led by joe biden. he has already convened it twice. he has met with law enforcement officials, with mayors, and more excitingly, you've got people on the hill already announcing bills that are going to put forward on day one of the new congress. we've got senator feinstein proposing an assault weapons ban. we've got someone else with a high capacity ammunition clips. think it's maybe lautenberg, and you have the president publicly saying now that he supports those bills. this is the most...
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even vice president biden might come over if they're close to a deal. more narrow issues are still dividing them. they've maid a lot of progress. they're just not there yet. milissa? >> i'm glad you just described that to us all about the mood in the senate tonight. correct me if i'm wrong, it almost sounds hopeful there. >> is a sense it's worth staying here and they're looking at these details. at the same time people are tired there are some frustrations there is a sense they could have gotten this done sooner. you hear that plenty. but those who have been at the table and looking at this do see compromise that has happened on both sides. you have republicans and democrats who made big compromises on taxes. the president moving up from his $250,000 threshold to 400 and 450 for individuals and couples. and republicans who wanted to see no tax increases for any level did agree, at least at this stage, that they would support tax increases. i say at this stage because this agreement should it happen then has to be voted on of course by the full senate a
even vice president biden might come over if they're close to a deal. more narrow issues are still dividing them. they've maid a lot of progress. they're just not there yet. milissa? >> i'm glad you just described that to us all about the mood in the senate tonight. correct me if i'm wrong, it almost sounds hopeful there. >> is a sense it's worth staying here and they're looking at these details. at the same time people are tired there are some frustrations there is a sense they...
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, the name we haven't heard is vice-president joe biden. what's the significance of them bringing him in in the 11th hour discussion? >> i think it's important because he was in delaware this weekend and all of a sudden, suddenly, rushed back to the white house early today and that's significant because when they had things all boxed up a year and a half ago on the debt ceiling and looked like they'd hit a brick wall, it was joe biden reaching out to mitch mcconnell and bridged the divide and magically had a deal and some senior aides who say joe biden might be the key to unsticking this, afternoon biden and mcconnell worked on the debt ceiling, many years in the senate, obviously, together and that's why they have that relationship, there's some in the white house who call the vice-president the mcconnell whisperer, as if he has some sort of magic potion that bring people together. >> stuart? >> can i just ask you, ed, if there's any deal you've heard of that's bandied around here, any deal at all from either side which would cut spending
, the name we haven't heard is vice-president joe biden. what's the significance of them bringing him in in the 11th hour discussion? >> i think it's important because he was in delaware this weekend and all of a sudden, suddenly, rushed back to the white house early today and that's significant because when they had things all boxed up a year and a half ago on the debt ceiling and looked like they'd hit a brick wall, it was joe biden reaching out to mitch mcconnell and bridged the divide...
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mcconnell had been working with senate majority leader harry reid, but he and biden have gotten things done when working together in the past. can they do it now? let's go to dana bash. dana, what do you think? is it promising? can they go it now? >> reporter: well, let's start there. it certainly has happened before between these two men, and it's happened before when democrats on capitol hill are either split or have gotten, frankly, just too frustrated with the republican counterparts to have conversations to be able to find bipartisan agreement. these are the two men who negotiated an extension of the bush era tax cuts for two years. that happened two years ago when republicans had a lot of political capital because they just won the house in a big way. whether or not these two men are actually going to be the ones to strike a deal, we're not sure, but we are told, our ted barrett and jessica yellin and i are told by multiple sources that it does seem that at this point, at this late hour, the talks are primarily centered around and between these two men, between mitch mcconnell, t
mcconnell had been working with senate majority leader harry reid, but he and biden have gotten things done when working together in the past. can they do it now? let's go to dana bash. dana, what do you think? is it promising? can they go it now? >> reporter: well, let's start there. it certainly has happened before between these two men, and it's happened before when democrats on capitol hill are either split or have gotten, frankly, just too frustrated with the republican counterparts...
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vice president biden is in charge of that task force. they've been given a deadline of january to present ideas to the president. the president gives his state of the union address in early february. and then it's off to the races and trying to get something done. so the idea that the president isn't going to push hard on doing something about gun safety, gun control, however you want to talk about it i think is a little bit ludicrous. julian and james, thanks very much. >> thank you. >> happy new year. >> stay with us. much more ahead. >> many new year. >> happy new year. in this country we say happy new year. >> ha, ha, ha, ha! safety, gun control, however you in this country we say happy new safety, gun control, however you in this country we say happy new >>> stay with us. the day's "top lines" are coming up. ♪ i heard somebody say ♪ burn, baby burn ♪ disco inferno ♪ burn, baby burn >>> fireworks and old friends, champagne toasts and resolutions. oh, and that dreaded fiscal cliff. here are today's "top lines." countdown to sk
vice president biden is in charge of that task force. they've been given a deadline of january to present ideas to the president. the president gives his state of the union address in early february. and then it's off to the races and trying to get something done. so the idea that the president isn't going to push hard on doing something about gun safety, gun control, however you want to talk about it i think is a little bit ludicrous. julian and james, thanks very much. >> thank you....
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in previous budget battles, joe biden has been the closer on these deals. his coming back from delaware might be a sign they are moving a little closer. that will be something to watch. the whole thing about changing cpi and reining in cost of entitlements, republicans are judging in on that. take a listen. >> one of proposals we made was something called change cpi but basically makes an adjustment in terms of how inflation is calculated on social security. highly unpopular among democrats not something supported but to strengthen social security in the long time i'm willing to make those decisions. >> reporter: in the morning, the president seemed to be opening the door to rein in those entitlements and then you heard harry reid shut the door on it. the president was talking in the context of reining in entitlements in a four trillion dollar debt deal not in the last minute deal, he would be willing to do that in much broader debt deal. but when you talk to republicans ron johnson from wisconsin, the real problem the president is not willing to rein in sp
in previous budget battles, joe biden has been the closer on these deals. his coming back from delaware might be a sign they are moving a little closer. that will be something to watch. the whole thing about changing cpi and reining in cost of entitlements, republicans are judging in on that. take a listen. >> one of proposals we made was something called change cpi but basically makes an adjustment in terms of how inflation is calculated on social security. highly unpopular among...
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vice president joe biden will be there. while some appear ready to compromise others are still ducking, dodging, trying to dump the blame elsewhere. >> we all have our ideas and in the senate, you're right. we probably another 40, 50, 60 of saying that we're ready to both raise revenues and control entitlements. when's the missing ingredient? it is presidential leadership. >> i think in the end we'll get a deal. the question is the timing. >> am hopeful there will be a deal that avoids the worst parts of the fiscal cliff, namely taxes going up on middle class people. >> it's pretty apparent that we are not going to do what we've been called to do. this is 112th congress. we have had two years to deal with quote the fiscal cliff. >> let's bring in our man at the white house, peter alexander standing by. pete, we just got word the president it appears is making some sort of smaller offer at this 3:00 meeting. any idea what smaller might mean? >> reporter: it's a good question, craig. actually kelly o'donnell reporting some mo
vice president joe biden will be there. while some appear ready to compromise others are still ducking, dodging, trying to dump the blame elsewhere. >> we all have our ideas and in the senate, you're right. we probably another 40, 50, 60 of saying that we're ready to both raise revenues and control entitlements. when's the missing ingredient? it is presidential leadership. >> i think in the end we'll get a deal. the question is the timing. >> am hopeful there will be a deal...
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joe biden does not often serve in his capacity as president of the senate. but today was ditch. today joe biden had an incredibly important job to fulfill. >> do you solemnly swear to support and defend the constitution of the united states against all enemies, foreign and domestic, that you will bear true faith and allegiance to the same, that you take this obligation freely without any mental reservation or purpose of evasion, and that you will well and faithfully discharge the duties of the office upon which you're about to enter, so help you god? >> i do. >> congratulations, senator. >> thank you. >> and welcome. >> congratulations, senator. stayed the united states senate got a brand new member. democratic -- democrat brian schatz of hawaii. senator schatz was appointed by hawaii's governor last night to fill the vacant seat of senator daniel inouye, who passed away a week ago. brian schatz got on air force one late last night. he touched down in washington early this morning. and he was a senator by this afternoon. that is a big day. so senator schatz, welcome to washingto
joe biden does not often serve in his capacity as president of the senate. but today was ditch. today joe biden had an incredibly important job to fulfill. >> do you solemnly swear to support and defend the constitution of the united states against all enemies, foreign and domestic, that you will bear true faith and allegiance to the same, that you take this obligation freely without any mental reservation or purpose of evasion, and that you will well and faithfully discharge the duties...
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certainly joe biden comes out 06 this looking great. he came in sort of his superman of the underdog flying in at the last minute to save the day. the president, a mixed bag although he really played his hand to the maximum. a lot of people looked at this and thought he learned his lessons from previous perusing budget battles, health care battles, stimulus battles and republicans in congress and really had them in a corner, had them boxed in really well. however, some of his supporters, you already hear them expressing a great deal of dismay.
certainly joe biden comes out 06 this looking great. he came in sort of his superman of the underdog flying in at the last minute to save the day. the president, a mixed bag although he really played his hand to the maximum. a lot of people looked at this and thought he learned his lessons from previous perusing budget battles, health care battles, stimulus battles and republicans in congress and really had them in a corner, had them boxed in really well. however, some of his supporters, you...
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people call biden the mcconnell whisper around here. they are able to at least talk and get things done. they have been key players in the last negotiation. i have to tell you, dagen, the white house and the vice president office are not telling anything about the talks. harry reid seems to be on the sidelines right now. dagen: the idea of mitch mcconnell in the vice president whispering to one another in each other's ears, just, well, leaves me with no words. [ laughter ] i think i should end it there before i embarrass myself. >> that is okay. the horse whisperer, the mcconnell whisper -- dagen: the dog whisperer on yes, i understand. thank you very much. peter barnes, happy new year. twelve hours to go and no deal inside. david, your reaction to no action. >> it definitely looks really bad right now. as if we may go over the cliff. i, you know, other people on this network know more than i do on this. the markets do not seem to be freaking out right now. it seems like they are perfectly happy to watch us go into the new year. everybo
people call biden the mcconnell whisper around here. they are able to at least talk and get things done. they have been key players in the last negotiation. i have to tell you, dagen, the white house and the vice president office are not telling anything about the talks. harry reid seems to be on the sidelines right now. dagen: the idea of mitch mcconnell in the vice president whispering to one another in each other's ears, just, well, leaves me with no words. [ laughter ] i think i should end...
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you have worked with vice president biden. as you know, he's been called on by mitch mcconnell to help with these last-minute talks. what do you think his role is now with so little time left? >> well, the vice president goes way back with senator mcconnell, and i've been in the room when they have talked, and it doesn't sound like two partisans separated by deep ideology. it sounds like guys who know how to bang out a deal. that said, if that were up to them perhaps they could get somewhere, but there are so many other forces swirling around this right now. i'm kind of in the same camp as kristen and the other political analysts we just heard from. if we are starting to hear things getting further apart rather than closer apart at this late date, i don't know that a decades old friendship between a couple of senators -- former senator and current one are going to make that much difference at this point. >> paul, let me play for you what senator lindsey graham said this morning on "fox news sunday" about the chances of a small
you have worked with vice president biden. as you know, he's been called on by mitch mcconnell to help with these last-minute talks. what do you think his role is now with so little time left? >> well, the vice president goes way back with senator mcconnell, and i've been in the room when they have talked, and it doesn't sound like two partisans separated by deep ideology. it sounds like guys who know how to bang out a deal. that said, if that were up to them perhaps they could get...
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vice president joe biden is taking over as lead negotiator for the democrats. meet the press, president obama blamed republicans. >> they say that the biggest priority is making sure that we deal with the deficit in a serious way. the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> if a deal is not reached by midnight tonight, taxes go up for nine out of ten americans and 2 million people without jobs will not get unemployment insurance starting tomorrow. sharp cuts in defense spending and programs will kick in onnian 2nd. >>> even if lawmakers cannot strike a deal, there will not be panic in the dairy aisle. there is a deal in place to make sure that milk prices do not skyrocket. cnbc's hampton pearson is live with more. >> how are you doing, erika. picking up on what you were talking about, congress may be having trouble avoiding the fiscal cliff. but they might be able to skirt the dairy cliff. the u.s. farm bill could keep milk prices from surging next year. it would keep a subsi
vice president joe biden is taking over as lead negotiator for the democrats. meet the press, president obama blamed republicans. >> they say that the biggest priority is making sure that we deal with the deficit in a serious way. the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> if a deal is not reached by midnight tonight, taxes go up for nine out of ten americans and 2 million people without jobs...
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Dec 31, 2012
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talks are continuing this evening between the vice president joe biden and mitch mcconnell. they were making some sense of progress there. this is after two stop soldiers, mitch mcconnell and harry reid failed to make much progress through tonight and this morning. harry reid went home earlier this yeeng and biden and mcconnell were taking point on the negotiations. they worked out a deal couple years ago for unemployment insurance that cut the social security tax. they 6 worked together before and they have succeeded reaching a deal before and folks on capitol hill they can do so again. >> less than 26 hours from what everyone calls a fiscal cliff. it would be comprehensive big package we hear them talk about, the big compromise that speaker boen and the president had worked out a year and a half ago? >> if you want what is known a as the grand bargain you would likely get in two steps. a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work o
talks are continuing this evening between the vice president joe biden and mitch mcconnell. they were making some sense of progress there. this is after two stop soldiers, mitch mcconnell and harry reid failed to make much progress through tonight and this morning. harry reid went home earlier this yeeng and biden and mcconnell were taking point on the negotiations. they worked out a deal couple years ago for unemployment insurance that cut the social security tax. they 6 worked together before...
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Dec 31, 2012
12/12
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to the vice president and said, perhaps joe biden could help jump start things. that's where we are now. there was a lot of fatigue and weariness as the day went on the without a package for members to consider. there was a lot of back and forth, as you know, about different elements of a potential deal and what was angering one side or another. what we expected now is, barring some late night breakthrough which seems unlikely, we would hear from the senate tomorrow, late morning, get a sense where they are, if they're any further along, and then if there is a package, it would be revealed to each side, meaning the house and the senate, let members take a look at it, and gauge if they're ready to go and vote on it. it is the final day of the year tomorrow. and so the time could not be any shorter. and that's putting pressure on everyone involved. we just don't have a sense if there is optimism, but at least we're told they are still talking. chris? >> obviously, vice president biden has not been involved in these negotiations up until now. do we know why the whit
to the vice president and said, perhaps joe biden could help jump start things. that's where we are now. there was a lot of fatigue and weariness as the day went on the without a package for members to consider. there was a lot of back and forth, as you know, about different elements of a potential deal and what was angering one side or another. what we expected now is, barring some late night breakthrough which seems unlikely, we would hear from the senate tomorrow, late morning, get a sense...